Accounting Roundup – October 2007

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06 Nov 2007

We have posted the October 2007 Edition of Accounting Roundup published by Deloitte & Touche LLP (USA).

Topics covered in this issue include:

FASB Developments

  • FASB Decides No Deferral of Fair Value Statements 157 and 159; Proposal to Indefinitely Defer SOP 07-1 Affecting Investment Company Accounting Expected
  • FASB Meets With Accounting Standards Board of Japan to Discuss Global Convergence
AICPA Developments
  • AICPA Proposes Revisions to Accounting and Review Services Guidance
  • AICPA Begins Project to Redraft Standards to Achieve Greater Clarity
SEC Developments
  • SEC Feedback on Executive Compensation Disclosures: 'Where's the Analysis?'
  • SEC Approves the Use of Surrogate to Value Employee Share Options
PCAOB Developments
  • PCAOB Issues Draft Guidance for Auditors of Smaller Public Companies
  • PCAOB Approves Amendments to Inspection Frequency for Firms That Do Not Regularly Issue Audit Reports
  • PCAOB Issues Inspection Report on Small U.S. Audit Firms
International Developments
  • IASB and Accounting Standards Board of Japan Make Progress Toward Goal of Convergence in Accounting Standards by 2011
  • IASB Extends the Deadline for Comments on Proposed IFRS for Small and Medium-Sized Entities
  • IASB Publishes Proposals for Amendments to IFRSs Under the First Annual Improvements Project
  • International Accounting Standards Committee Foundation Appoints Gerrit Zalm as Chairman of the Trustees
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